If you are interested in the payments market, this is a good read. But the bottom line here is this:

I was pleasantly surprised at how easy it was to pay with CurrentC at Target; however, I’m not sure that I could recommend CurrentC over NFC-based systems like Apple Pay because of the fraud and privacy concerns. Ultimately the retail customer’s money is on the line in the event of fraud, which is worrisome in light of the lackluster security record of many retailers (Target, 7-Eleven, and Michaels) in the MCX consortium.

Given that Apple Pay exists as a model, why would any financial organization put forward a payment model that is not at least as secure as Apple Pay?

[H/T Robert Davey]